Assetmark Inc. Purchases 2,383 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Assetmark Inc. increased its stake in Eli Lilly and Company by 5.6%, acquiring an additional 2,383 shares to hold a total of 44,978 shares, valued at approximately $37.15 million.
• Recently reported earnings showed that Eli Lilly missed analysts' consensus EPS estimates of $4.64, posting only $3.34 per share, despite a 45.2% year-over-year revenue increase to $12.73 billion.
• The company will pay a quarterly dividend of $1.50 per share on September 10th, reflecting an annualized dividend of $6.00 and a yield of 0.74%.

Assetmark Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,978 shares of the company's stock after purchasing an additional 2,383 shares during the quarter. Assetmark Inc.'s holdings in Eli Lilly and Company were worth $37,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department lifted its holdings in shares of Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company in the first quarter worth about $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $811.73 on Friday. The company has a market cap of $769.31 billion, a price-to-earnings ratio of 66.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm has a 50 day moving average of $771.95 and a 200-day moving average of $800.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. Eli Lilly and Company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. UBS Group dropped their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Guggenheim increased their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.

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